NN Group receives approval to expand Partial Internal Model to include Delta Lloyd entities
NN Group has received approval from De Nederlandsche Bank (DNB), the Dutch supervisory authority, to expand its Partial Internal Model under Solvency II to include the Delta Lloyd Life and Non-life entities in the Netherlands.
Jan-Hendrik Erasmus, Chief Risk Officer of NN Group: ‘We are pleased to have received the regulatory approval for this expansion of our Partial Internal Model. This is an important step in the integration of Delta Lloyd into NN Group. It creates a uniform risk measurement and capital management framework across our largest insurance entities in the Netherlands.’
The expanded approved Partial Internal Model will be used to calculate regulatory capital requirements effective 31 December 2018. NN Group’s pro-forma Solvency II capital ratio based on the expanded Partial Internal Model, calculated as the ratio of eligible Own Funds (OF) to the Solvency Capital Requirement (SCR), was 248% at 30 September 2018.
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